Thanks to the fact that the city used very little of its special purpose local option sales tax (SPLOST) money during the just-completed fiscal year, Commerce ended the year $686,000 in the black.

Things weren’t so good on the operations side.

“All of the departments operated well within their budgets that were approved last year,” noted Steve McKown, the city’s finance director, at Monday night’s city council meeting.

Nonetheless, considering just operating funds, the city ended up with a deficit of $203,313, spending $775,000 in reserve funds during the year. By contrast, it took in $785,000 more in SPLOST revenue than it spent. Those funds are restricted for specific uses.

The General Fund ended the year almost $19,000 in the black, but McKown said that was at the expense of a transfer of Gas Fund reserves.
The Water and Sewer Fund ended the year $180,000 in the hole and the Natural Gas Fund was in the red by $97,000. The Electric Fund ended the year with $14,000 of revenue over expenditures.

“Everything went well considering the year we’ve had,” McKown commented.

E-Mail addresses will not be displayed and will only be used for E-Mail notifications.

To prevent automated Bots from commentspamming, please enter the string you see in the image below in the appropriate input box. Your comment will only be submitted if the strings match. Please ensure that your browser supports and accepts cookies, or your comment cannot be verified correctly.Enter the string from the spam-prevention image above:

Remember Information? Subscribe to this entry

Submitted comments will be subject to moderation before being displayed.